A50 - China Contracting - Personal Consumption DecliningAs Kuh Kuh Cathy Woods finds God and re-discovers "Faith" in investing -
her flock discovers the very same religious experience.
Faith in Central Banks ability to backstop Markets is accelerating.
The phenomena is not limited to TECH, it is global and it has expanded
to every Capital Stock - Real Estate, Equities, Commodities and Bonds.
Crypto and the Metals Complex are the laggards.
This brand of unprecedented Mania has begun its Zenith Phase.
It is well beyond the irrational Mania of the DotCom Mania, well
beyond.
Buy buy, buy... Sellers and Intelligent observers are mocked for
their plaintiff wails of objection.
Clearly there is an immense danger to this, one which will eventually
present itself in the near future, until then the BBB Herd will expend
all the Capital Energy they can and then move to Leverage via
increased Margin.
Margin as a percentage of Capital Stock for Equity is frankly minimal
so there remains intense upside pressure for those who begin to
cheer their own successes believing higher prices are expected.
Caution for Sellers here as this can become far more distended.
We will see how the updated Levels for NQ ES YM trade, Friday
all Futures Indices hit their Extension Targets.
Earnings is dead ahead and INTC gave a clear warning, it was not
heeded as "Faith" itself and its followers pressed their luck.
We anticipate this to continue after the July 21st reversal
period was immediately snapped up 2X.
Dangerous times, Good Luck and Trade Safe.
